Sept. 26 (Bloomberg) -- Verbund AG, Austria’s biggest
utility, and EON AG plan to sign a deal next month to swap power
generation assets in Turkey and Germany, people familiar with
the situation said.

EON, based in Dusseldorf, Germany, will take Verbund’s 50
percent stake in Enerjisa Enerji AS, a venture with Turkey’s
Haci Omer Sabanci Holding AS, in exchange for several power
plants in Germany, said the people who declined to be identified
as the process isn’t public.

The agreement, set to be signed next month, may be a pure
asset swap or include a limited cash payment, the people said.

EON wants to expand in Brazil and Turkey where energy
demand is expected to grow faster than in Europe. The utility
acquired an 11.7 percent stake of Brazilian billionaire Eike
Batista’s MPX Energia SA and set up a power-generation joint
venture earlier this year. The two companies plan to jointly
generate 20,000 megawatts in Brazil and Chile and will each own
50 percent of the business. EON abandoned plans to enter India.

Verbund, which bought a stake in the Turkish power business
for $326.2 million in 2007, and Sabanci Holding have announced
plans to have 5,000 megawatts of power capacity in Turkey BY
2105 and a 10 percent share in the power production market.

Enerjisa Enerji AS, Turkey’s second biggest non-state
energy producer, was set up last year with a 3.5 billion lira
($1.95 billion) capital after a reorganization of businesses
owned by Verbund and Sabanci Holding. Enerjisa, which had 3.7
billion liras of sales in 2011, has about 1,700 megawatts of
generating capacity, through its production unit Enerjisa Enerji
Uretim AS.

In a statement last year’s, the Enerjisa Enerji Uretim unit
was valued at 8.64 billion liras and Enerjisa Elektrik Dagitim
AS, which operates the power grid in Turkey’s capital Ankara, at
1.16 billion liras.